UPM publishes its first Green Bond Report

(UPM, Helsinki, 8 April 2021 at 11:00 EET) – UPM has today published its first Green Bond Report. The report provides details on the use of proceeds as well as the estimated impacts of the UPM´s EUR 750 million Green Bond issued in November 2020.

The proceeds of the Green Bond were allocated to the following two categories:

1. Sustainable forest management
The category includes the acquisition, maintenance and management of certified forests. The total amount used was EUR 672 million, of which EUR 592 million was allocated to carrying value of forest land and EUR 80 million to sustainable forest management costs.

2. Climate positive products and solutions
The category includes financing the development, operations, maintenance and expansion of the production of climate positive products and solutions. The total amount used was EUR 78 million and it was allocated to R&D costs of biochemicals, biocomposites, biofuels and biomedicals businesses.

“The Green Finance Framework and the Green Bond are an important part of our financing and our Biofore strategy. With this proceed allocation we support the goals of the Paris Agreement and contribute to the UN Sustainable Development Goals important to us,” says UPM´s CFO Tapio Korpeinen.

UPM’s Green Bond 2020 Report can be found here. The Report and the Green Finance Framework are available on UPM’s website at www.upm.com/investors/upm-as-an-investment/debt/

For further information please contact:
Kenneth Råman, SVP, Treasury and Risk Management, UPM, tel. +358 400 477 287

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

Disclaimer
The information contained in this release shall not constitute an offer to sell or the solicitation of offers to buy securities of UPM-Kymmene Corporation in any jurisdiction and the information contained herein may not be distributed or published in any jurisdiction or under any circumstances in which it is not authorized or is unlawful. In particular, this release does not constitute an offer to sell, or a solicitation of offers to buy or subscribe for, securities in the United States, Canada, Australia, Hong Kong, South Africa or Japan. Any securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered, exercised or sold in the United States or to U.S. persons absent registration or an applicable exemption from registration requirements.

In the United Kingdom, the information in this release may be distributed only to, and may be directed at, (a) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (b) high net worth entities falling within Article 49(2)(a) to (d) of the Order, and other persons to whom it may be lawfully communicated, falling within Article 49(1) of the Order (all such persons together being referred to as “relevant persons”). Any person who is not a relevant person should not act or rely on this release or any of its contents.

UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,000 people worldwide and our annual sales are approximately EUR 8.6 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

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